Lyten has signed a binding agreement to acquire Northvolt’s remaining manufacturing assets in Sweden and Germany, strengthening its position in the lithium-sulfur battery market. The transaction covers Northvolt Ett and its expansion facility in Skellefteå, Northvolt Labs in Västerås, Northvolt Drei near Heide, and all associated intellectual property.
Dan Cook, CEO and co-founder of Lyten, said the acquisition accelerates the company’s goal to deliver clean, locally sourced batteries and energy storage systems in North America and Europe. He noted that demand for Lyten’s lithium-sulfur technology is rising rapidly to support energy independence, national security and AI data center requirements.
Ebba Busch, Deputy Prime Minister of Sweden, described the deal as beneficial for Sweden’s economy and for Europe’s energy autonomy. She added that the Swedish government worked closely with Lyten and the bankruptcy trustee to ensure a smooth transition for Northvolt’s former employees.
Mikael Kubu, Northvolt’s bankruptcy trustee, welcomed the agreement, emphasizing the risk of a full shutdown during the insolvency process and underscoring Lyten’s commitment to resume production and uphold Northvolt’s vision of sustainable battery manufacturing and job creation across Europe and North America.
This latest purchase follows Lyten’s earlier acquisitions of Northvolt’s Cuberg facility in California, the Dwa BESS plant in Poland, and Northvolt’s battery energy storage system portfolio and IP. Upon closing, Lyten plans to restart operations immediately in Skellefteå, Västerås and Dwa to meet surging demand across more than 20 countries.
At Northvolt Drei, Lyten is collaborating with German authorities to develop a 15 GWh capacity factory. The company is also in discussions to acquire Northvolt Six in Quebec, which is building a 15 GWh Phase 1 facility, engaging with Canadian and Québec governments and local stakeholders.
Currently producing lithium-sulfur cells in Silicon Valley, Lyten serves drone and defense markets and is preparing to deploy its batteries on the International Space Station. The company reports a multi-billion-dollar pipeline for battery energy storage systems powered by its lithium-sulfur technology.
Source: Northvolt
